$Canopy Growth Corp (WEED.CA)$$Canopy Growth (CGC.US)$ shares are trading higher in the pre-market trading session Thursday, and the stock has gained more than 50% since Monday. Here's a look at what's going on.

The Details:

Cannabis stocks got a lift following comments from Vice President Kamala Harris that the DEA needs to move quickly to reschedule marijuana.

"This issue is stark when one considers the fact that on the schedule currently, marijuana is considered as dangerous as heroin. Marijuana is considered as dangerous as heroin and more dangerous than fentanyl," Harris said.

"I cannot emphasize enough that they need to get to it as quickly as possible, and we need to have a resolution based on their findings and their assessment," Harris added.

Canopy Growth shares are moving on heavy trading volume Wednesday. According to data from Benzinga Pro, more than 8.6 million shares have already been traded in the session, compared to the stock's 100-day average of 3.41 million shares.

CGC Stock Forecast in 2030:

Predicting the future in stock prices over long periods of time is challenging. Wall Street analysts use complex models that take into account interest rates, economic growth, competitive advantages, management teams and historical profitability, among a host of other factors.

If, as an investor, you want to assume most of the major factors remain stable, you can use trend analysis as a helpful tool. Using a longer term trend line or historical performance of the stock, you can aim to forecast a stock's annual rate of return.

For Canopy Growth, over the past 5 years, it's annualized stock performance is -61.35%, and if you assume that trend continues for another 5 years, you can expect a stock to trade at $0.04.

Using a trend line (see how to perform this function here), If you choose to use a trend line, connect your two points and look into the future to the point in time in which you're curious. Once you've identified that stock price, you may want to consider what type of conditions would need to exist for the stock to justify the share price – be it an outside influence or managerial decision making.